LPL Financial (NASDAQ:LPLA) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of LPL Financial (NASDAQ:LPLA) in a report released on Wednesday morning, Benzinga reports. They currently have a $305.00 target price on the financial services provider’s stock.

A number of other brokerages have also weighed in on LPLA. TD Cowen lifted their price target on shares of LPL Financial from $269.00 to $271.00 and gave the company a hold rating in a research note on Wednesday. Morgan Stanley raised shares of LPL Financial from an equal weight rating to an overweight rating and lifted their price target for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Barclays lifted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the company an overweight rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Finally, UBS Group lifted their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $276.20.

LPL Financial Stock Down 1.4 %

Shares of NASDAQ LPLA opened at $265.49 on Wednesday. The stock has a market cap of $19.83 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.33 and a beta of 0.84. The firm has a 50 day moving average price of $264.62 and a 200 day moving average price of $242.70. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial has a 52-week low of $179.00 and a 52-week high of $276.12.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.21 earnings per share. Analysts expect that LPL Financial will post 15.55 EPS for the current year.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total transaction of $346,450.00. Following the sale, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total transaction of $346,450.00. Following the sale, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the sale, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock valued at $15,911,088 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of LPL Financial by 9.3% in the first quarter. BNP Paribas Financial Markets now owns 41,619 shares of the financial services provider’s stock valued at $10,996,000 after purchasing an additional 3,543 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of LPL Financial by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,195 shares of the financial services provider’s stock valued at $2,954,000 after purchasing an additional 1,519 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of LPL Financial in the first quarter valued at $208,000. Norden Group LLC acquired a new position in shares of LPL Financial in the first quarter valued at $889,000. Finally, Van ECK Associates Corp increased its holdings in shares of LPL Financial by 14.4% in the first quarter. Van ECK Associates Corp now owns 23,589 shares of the financial services provider’s stock valued at $6,233,000 after purchasing an additional 2,969 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.